- Budget deficit: Canada recorded a slightly lower budget deficit of C$14.50 billion ($10.09 billion) for the first seven months of the 2024/25 fiscal year compared to C$15.13 billion in the same period last year.
- Program Costs: A 9.8% increase across all major spending categories.
- Public Debt Costs: They rose by 19.4%, mainly due to higher effective rates on bonds and treasury bills.
- Revenue growth: Year-to-date revenue grew 10.7%, driven by higher personal income tax revenue and other taxes.
- Monthly Comparison: In October, Canada posted a deficit of C$1.49 billion, significantly lower than the C$6.96 billion deficit in October 2023
This article was written by Greg Michalowski at www.forexlive.com.
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